How to Use the EUROCONVERT Function in Excel
Today, let’s delve into a powerful tool found in both Microsoft Excel and Google Sheets: the EUROCONVERT function. This function is designed to convert a monetary amount from the legacy European Currency Unit (ECU) to the Euro or vice versa. We’ll examine how this function operates and how you can use it effectively in your spreadsheet tasks.
Basic Syntax
The syntax for the EUROCONVERT function is consistent across both Microsoft Excel and Google Sheets:
=EUROCONVERT(amount, source_currency, target_currency, [full_precision])- amount: The monetary value you wish to convert.
- source_currency: The currency code or symbol of the original amount.
- target_currency: The currency code or symbol for the target conversion.
- full_precision (optional): A logical indicator specifying whether to present results with full precision or round off to two decimal places. TRUE indicates full precision, while FALSE (the default setting) herds the results into two decimal places.
Examples of Usage
Here are a few examples to help clarify the application of the EUROCONVERT function.
Example 1: Converting Euros to ECU
Assume you have a sum in Euros that you wish to convert to the European Currency Unit (ECU). In Excel or Google Sheets, apply the following formula:
=EUROCONVERT(100, "EUR", "ECU")In this sample, we convert 100 Euros to ECU. It’s crucial to use the correct currency codes “EUR” for Euro and “ECU” for European Currency Unit.
Example 2: Converting ECU to Euros with Full Precision
To convert a sum from ECU to Euros without rounding off, utilize the formula below:
=EUROCONVERT(100, "ECU", "EUR", TRUE)This conversion of 100 ECU to Euros is executed with full precision, as indicated by the TRUE parameter, which denotes a non-rounded result.
Final Thoughts
Utilizing the EUROCONVERT function in Excel and Google Sheets simplifies the task of handling currency conversion, particularly when involving legacy European currencies like the ECU and the Euro. By mastering this function and understanding its syntax, you can perform currency conversions more efficiently within your spreadsheets.
More information: https://support.microsoft.com/en-us/office/euroconvert-function-79c8fd67-c665-450c-bb6c-15fc92f8345c